JPMorgan Chase & Co. Lowers Webster Financial (NYSE:WBS) Price Target to $63.00

Webster Financial (NYSE:WBS) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $65.00 to $63.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 40.03% from the company’s previous close.

Several other research firms have also recently commented on WBS. StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Raymond James reissued an “outperform” rating and set a $60.00 price objective on shares of Webster Financial in a report on Tuesday, March 26th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $64.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Jefferies Financial Group lowered their price target on Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 8th. Finally, Morgan Stanley raised their price objective on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.85.

Webster Financial Price Performance

Shares of NYSE WBS traded up $0.11 during midday trading on Wednesday, hitting $44.99. The company had a trading volume of 457,384 shares, compared to its average volume of 1,149,360. The business has a 50-day simple moving average of $47.97 and a two-hundred day simple moving average of $46.50. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.38 and a beta of 1.33. Webster Financial has a twelve month low of $31.03 and a twelve month high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the previous year, the business posted $1.49 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Webster Financial will post 5.8 earnings per share for the current year.

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total value of $95,200.00. Following the completion of the sale, the insider now owns 27,955 shares in the company, valued at approximately $1,330,658. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now owns 89,621 shares in the company, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders sold 29,941 shares of company stock valued at $1,545,582 over the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in Webster Financial by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock valued at $51,556,000 after acquiring an additional 21,026 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its position in Webster Financial by 98.1% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock worth $7,576,000 after acquiring an additional 73,924 shares during the last quarter. FDx Advisors Inc. grew its holdings in Webster Financial by 7.6% in the 3rd quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock valued at $232,000 after buying an additional 408 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Webster Financial by 58.2% in the third quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after acquiring an additional 117,437 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Webster Financial by 15.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock valued at $3,375,000 after acquiring an additional 11,387 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.